Itaconix plc Grants of Options & PDMR dealings 19 April, 2024
April 19, 2024 10 min read19 April, 2024
Itaconix plc
(“Itaconix” or the “Company”)
Grants of Options & PDMR dealings
Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products, announces a grant of options to certain PDMRs and two historical grants of options to PDMRs.
Grant of options on 17 April 2024
On 17 April 2024, a total of 155,000 options over ordinary shares of £0.50 in the Company (“Options”) were granted under the Company’s employee share option plan. Of the Options granted, 100,000 Options were granted to certain persons discharging managerial responsibilities (” PDMRs” ). The Options can be exercised on or after the vesting date, subject to certain financial and other performance conditions being met. The following PDMRs were granted Options:
| Name | Position | Number of Options granted | Exercise Price | Vesting date |
| John R. Shaw | Chief Executive Officer | 35,700 | 152.5p | 17 April 2025 |
| Laura Denner | Chief Financial Officer | 32,150 | 152.5p | 17 April 2025 |
| Yvon Durant | Chief Technical Officer | 32,150 | 152.5p | 17 April 2025 |
Historical grants of options to PDMRs
On two occasions historically, options over ordinary shares in the Company have been granted to certain PDMRs, however, in error, these grants were not notified to the market. These options are also exercisable on or after their respective vesting dates, subject to certain financial and other performance conditions being met. As at today’s date, none of these options have yet been exercised.
Details of these options are as follows:
| Date of Option grant | Number of Options granted | *Equivalent number of Options post share consolidation | *Exercise Price (post share consolidation) | Vesting date |
| John R. Shaw | Chief Executive Officer | |||
| 22 April 2022 | 3,951,154 | 79,023 | 275.5p | 1 January 2022 |
| 22 April 2022 | 1,625,216 | 32,504 | 275.5p | 1 January 2023 |
| Laura Denner | Chief Financial Officer | |||
| 22 April 2022 | 3,167,592 | 63,351 | 250.5p | 1 January 2022 |
| 22 April 2022 | 1,302,916 | 26,057 | 250.5p | 1 January 2023 |
| 28 October 2020 | 2,000,000 | 40,000 | 135.5p | 28 October 2021 |
| Yvon Durant | Chief Technology Officer | |||
| 22 April 2022 | 3,580,212 | 71,604 | 250.5p | 1 January 2022 |
| 22 April 2022 | 1,472,639 | 29,453 | 250.5p | 1 January 2023 |
*On 15 August 2023, the Company announced a 50 for 1 share consolidation. The number of share options outstanding was adjusted to reflect the share consolidation, as detailed above.
Following the above grants of Options, John R. Shaw holds a total of 147,227 Options, Laura Denner holds a total of 161,558 Options, and Yvon Durant holds a total of 133,207 Options.
As at today’s date, there are a total of 594,995 Options outstanding.
| Itaconix plc | +1 603 775-4400 |
| John R. Shaw / Laura Denner | |
| Belvedere Communications | +44 (0)20 7653 8702 |
| John West / Llew Angus | |
| Canaccord Genuity – Nominated Adviser and Sole Broker | +44 (0) 20 7523 8000 |
| Adam James / Harry Pardoe |
Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a. | Name | John Shaw | ||||
| 2 | Reason for notification | |||||
| a. | Position/Status | Chief Executive Officer | ||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Itaconix plc | ||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||
| b. | Nature of the transaction | Issuance of Options | ||||
| c. | Price(s) and volume(s) |
|
||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||
| e. | Date of the transaction | 17 April 2024 | ||||
| f. | Place of the transaction | Outside a trading venue | ||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a. | Name | Laura Denner | ||||
| 2 | Reason for notification | |||||
| a. | Position/Status | Chief Financial Officer | ||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Itaconix plc | ||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||
| b. | Nature of the transaction | Issuance of Options | ||||
| c. | Price(s) and volume(s) |
|
||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||
| e. | Date of the transaction | 17 April 2024 | ||||
| f. | Place of the transaction | Outside a trading venue | ||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a. | Name | Yvon Durant | ||||
| 2 | Reason for notification | |||||
| a. | Position/Status | Chief Technical Officer | ||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Itaconix plc | ||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||
| b. | Nature of the transaction | Issuance of Options | ||||
| c. | Price(s) and volume(s) |
|
||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||
| e. | Date of the transaction | 17 April 2024 | ||||
| f. | Place of the transaction | Outside a trading venue | ||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a. | Name | John Shaw | ||||||
| 2 | Reason for notification | |||||||
| a. | Position/Status | Chief Executive Officer | ||||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a. | Name | Itaconix plc | ||||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||||
| b. | Nature of the transaction | Issuance of Options | ||||||
| c. | Price(s) and volume(s) |
|
||||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||||
| e. | Date of the transaction | 22 April 2022 | ||||||
| f. | Place of the transaction | Outside a trading venue | ||||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a. | Name | Laura Denner | ||||||
| 2 | Reason for notification | |||||||
| a. | Position/Status | Chief Financial Officer | ||||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a. | Name | Itaconix plc | ||||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||||
| b. | Nature of the transaction | Issuance of Options | ||||||
| c. | Price(s) and volume(s) |
|
||||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||||
| e. | Date of the transaction | 22 April 2022 | ||||||
| f. | Place of the transaction | Outside a trading venue | ||||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a. | Name | Yvon Durant | ||||||
| 2 | Reason for notification | |||||||
| a. | Position/Status | Chief Technical Officer | ||||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a. | Name | Itaconix plc | ||||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||||
| b. | Nature of the transaction | Issuance of Options | ||||||
| c. | Price(s) and volume(s) |
|
||||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||||
| e. | Date of the transaction | 22 April 2022 | ||||||
| f. | Place of the transaction | Outside a trading venue | ||||||
| Notification of a Transaction pursuant to Article 19(1) of the EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a. | Name | Laura Denner | ||||
| 2 | Reason for notification | |||||
| a. | Position/Status | Chief Financial Officer | ||||
| b. | Initial notification/
Amendment |
Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Itaconix plc | ||||
| b. | LEI | 2138000KA3GOCK2ZA496 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a. | Description of the financial instrument, type of instrument
Identification Code |
Options over Ordinary Shares of 10 pence each
GB00BPK3YZ68
|
||||
| b. | Nature of the transaction | Issuance of Options | ||||
| c. | Price(s) and volume(s) |
|
||||
| d. | Aggregated information
– Aggregated Volume – Price |
N/a | ||||
| e. | Date of the transaction | 28 October 2020 | ||||
| f. | Place of the transaction | Outside a trading venue | ||||
About Itaconix
Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in cleaning, hygiene, and beauty.
